One of the best kept secrets in the industry surrounds CEO compensation at the nation's largest nonbank originators. According to interviews conducted by IMF, some CEOs earn $10 million to $15 million per year.
Lenders of all shapes and sizes reported eye-popping increases in production volume from the first to the second quarter of 2019. At the midway point, this year was running 11.5% ahead of the pace in the first half of 2018.
Waterstone Bank plans to test the waters of the non-QM market, a niche that most depositories have avoided. Is this part of a growing trend or just an isolated detour into the unknown?
Earlier this year, Wells Fargo offloaded roughly $20.7 billion in Ginnie servicing rights. The buyers? A bank and a nonbank. Meanwhile, the Equifax data hack will cost upwards of $700 million in settlement costs.
Mortgage Grapevine: MSR auctions have been few and far between of late, but all that may soon change. Meanwhile, Stearns Lending has secured the cooperation of its largest bondholder, PIMCO, to reduce its debt load. Now, it's just a matter of time and working with the bankruptcy court.
Is the White House getting cold feet on administrative reform of Fannie and Freddie? Maybe, maybe not, but it appears the Federal Housing Finance Agency may not release its GSE capital rule until December.
In 2018, residential originations suffered but that didn't crimp the pay packages of CEOs and other top executives at publicly traded mortgage companies. Leading the pack: Douglas Lebda, CEO of Lending Tree at $42.3 million.
The Mortgage Bankers Association is making headway on getting the CFPB to change its loan originator compensation rules. But how far will the bureau go?
RSS